Developer walked away from three other projects

The Rockland County property at the center of a legal fight between Empire State Bank and a Monsey synagogue wasn't the only project developer Tovi Mermelstein walked away from in the past few years.

Jessica DiNapoli

The Rockland County property at the center of a legal fight between Empire State Bank and a Monsey synagogue wasn't the only project developer Tovi Mermelstein walked away from in the past few years.

Mermelstein pinned his problems on the real estate market collapse.

"There was no way we could pay back banks and even break even," Mermelstein said. "We had no choice but to walk away."

Here's a rundown of some of his Orange County projects:

City of Newburgh high ranches: Mermelstein last year handed back to a bank close to 10 acres of land near Shipp Street in the City of Newburgh. He built eight houses — some of which are unfinished — on the site. Mermelstein said the bank that reclaimed the land sought a $1 million deficiency judgment against him, pushing him into Chapter 7 bankruptcy. Fox Meadow Estates: A bank foreclosed in 2010 on this partially completed 22-house luxury subdivision in Rock Tavern with sweeping views of the Shawangunk Mountains. Some homes are occupied. Mermelstein said he's working with the company that bought the debt on the property to get vacant homes sold. Barclay Manor: Mermelstein bought more than 20 units in the Town of Newburgh condo complex with partners as an investment, but abandoned the plan after finding that the rental market "wasn't that great." Mermelstein got some financing for the property through New York Community Bank and FKF 3, the loan fund alleged to have operated as a Ponzi scheme. NYCB and FKF 3 are now fighting in state court over whose debt holds first priority.

Mermelstein referred to a Yiddish proverb to describe his handful of failed Orange County projects: "Unfortunately, as we say, a man thinks and plans, and then God laughs."